Weekly

January 22 nd

Today's volatility range:

The United States announced that the number of people applying for unemployment benefits for the first time last week was better than expected, but the number was still on the high side. Biden promised to increase financial assistance measures to boost the economy, and the gold price would be supported by the depreciation of cash.

Gold price should stabilize at $1,864 per ounce before reaching a high level again. It is expected to fluctuate today, and the suggested volatility is between $1,856 and $1,875.

The European Central Bank kept the interest rate unchanged, and the central bank announced that it would keep the main refinancing rate at zero, the overnight deposit rate at MINUS 0.5%, and the marginal lending rate at 0.25%, which was in line with market expectations. In the minutes of the meeting,

The members of the management Committee of the European Central Bank will write down the future economic policy, saying: "Decided to reiterate the very loose monetary policy stance", implying that it will not stop printing money to save the market. In fact,

Last year, EU leaders approved an emergency relief plan of 750 billion euros, but the operation of this fund was delayed due to disputes over the scope of authority and management.

European Central Bank President Lagarde made a speech after the announcement of the interest rate, warning that the number of new pneumonia cases is soaring, the whole European economy is still uncertain, and European governments need to speed up the deployment of new pneumonia recovery funds.

It is urged that the rescue plan with a scale of 750 billion euros should be put into operation immediately to help the regional economy recover more quickly and comprehensively. Lagarde said that the COVID-19 epidemic still dealt a serious blow to the euro zone economy.

European countries have intensified and extended the policy of city closure. It is predicted that the decline in the fourth quarter of last year will last until the first quarter of this year, and the risk of economic growth prospects in the euro zone still tends to decline. Major European stock markets rose across the board,

The national DAX index fell by 0.11%; French CAC index fell 0.67%; Britain's FTSE 100 index fell by 0.37%.

In terms of data, last night, the United States announced that the number of people applying for unemployment benefits for the first time last week was 900,000, which was better than expected, but the figure was still on the high side. It is expected that the Biden administration will increase measures to relieve difficulties, and the three major indexes in the United States will develop individually, with the Dow Jones index being the only index that fell.

Down 0.04%; The Standard & Poor's Index and Nasdaq Index both hit record highs, and the Standard & Poor's Index rose by 0.03%; Nasdaq index rose 0.55% and fell for the fourth consecutive day, with the US dollar index approaching 90 points.

Stimulated the gold price to climb to $1,875 per ounce, but with the satisfactory employment data, the gold price turned to fall, with the worst falling to $1,858 per ounce, but rebounded strongly at the low level, and finally closed at $1,870 per ounce, down by one dollar.

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